BoI to sell its fund administration arm

Dublin: Bank of Ireland is to sell on its fund administration business, Bank of Ireland Securities Services for a cash sum of €60 million, it said yesterday.

BoI to sell its fund administration arm
Fri, 25 Feb, 2011 - 00:00

The buyer is Northern Trust Corporation and the cash deal should add €40m to the bank’s Tier 1 equity to the bank’s depleted balance sheet.

Bank of Ireland Securities Services is the fund administration and custody arm of the bank.

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